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Friday, 2 November 2012

New iPad App Enables Mobile Loan Applications

This article is culled from American Bankers Websites:

Since the introduction of the first iPad in 2010 —
and the tablet craze that's ensued ever since — the idea that secured loan
officers and brokers could one day have the ability to take loan mortgage
applications with mobile technology has been a concept that's held much
promise. But it's also mired in a belief that widespread use of tablets
is a distant evolution for an industry that's notoriously slow at
adopting new innovations.

Now, on the heels of the
much-anticipated release of Apple's third-generated iPad, an Austin,
Texas-based eloan and home mortgage technology upstart believes the impending launch of
its iPad application will be the catalyst for tablet adoption by loan
originators.
The MobileLO iPad app is a point of sale application
that allows loan officers and brokers to enter the data fields of a
Uniform Residential Loan Application (Form 1003), generate a Good Faith
Estimate and other federal and state-specific disclosure documents, pull
the applicant's credit report and collect electronic signatures.